Bill Ackman, the hedge fund manager of Pershing Square Capital Management, made notable capital allocation changes, selling 772,000 shares of Alphabet and acquiring 30.3 million shares of Uber. This shift positions Uber as his largest investment, constituting 19% of his portfolio. Analysts deem Alphabet undervalued, but competition from Amazon and AI platforms poses risks to its market share in digital advertising. Alphabet remains a leader in adtech but faces challenges ahead, complicating its future growth trajectory.
Bill Ackman sold 772,000 shares of Alphabet, trimming his position by 7%. Despite analysts viewing the stock as undervalued, he shifted to investing in Uber Technologies.
Ackman bought 30.3 million shares of Uber, which is now his largest holding at 19% of the portfolio. He praised Uber's leadership and business quality.
Alphabet is the largest adtech company, capturing over a third of global digital ad spending but is projected to lose market share due to increased competition.
The rise of Amazon and generative AI platforms threatens Alphabet's dominance in digital advertising as businesses allocate more funds to retail advertising.
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